At 10:00 on 30/3, Saigon Jewelry Company (SJC) adjusted its gold bar prices two times, listing them at 169.9 - 172.9 million VND per tael. The price of the precious metal increased by 1.5 million VND compared to the opening of the trading session and was 100,000 VND higher than late last week.

SJC also increased the price for plain gold rings by 1.5 million VND from early morning, reaching 169.7 - 172.7 million VND per tael. Other major retailers, including Bao Tin Minh Chau, Bao Tin Manh Hai, PNJ, and DOJI, traded this item around 168.4 - 171.4 million VND, with no adjustments since the market opened today.

Domestic gold prices initially fell then rebounded, mirroring trends in the international market. By 10:15 (Hanoi time), international spot gold had risen by nearly 12 USD to 4,500 USD per ounce. Earlier this morning, the price of this precious metal had dropped by over 60 USD at one point.

When converted using Vietcombank's exchange rate, international gold is equivalent to 143.5 million VND per tael, which is 29 million VND lower than domestic prices. According to Huynh Trung Khanh, Vice Chairman of the Vietnam Gold Trading Association (VGTA), this significant disparity between domestic and international gold prices stems from an imbalance between supply and demand.

The expert explained that domestic supply is increasingly limited because the State Bank has not yet granted import and gold bar production quotas to eligible entities. Meanwhile, public demand for gold remains very high.

In contrast, domestic silver bar prices increased by 0.8%. Phu Quy listed this item at 2.64 - 2.72 million VND per tael, equivalent to 70.4 - 72.6 million VND per kg. Sacombank - SBJ traded silver bars at approximately 2.63 - 2.73 million VND per tael.

Trong Hieu